Makhija may head SKF's Asia business

MUMBAI: Rakesh Makhija, the current managing director of SKF India, is scheduled to be elevated to a higher role of spearheading the Asian operations. The global bearings company, SKF Group, is currently chalking plans for its India unit that also entails making it a manufacturing hub for the Asian region.

Mr Makhija will preside over the new entity, formally called SKF Asia, that will be operational by January 2010, said a person familiar with the development. Shishir Joshipura, an additional director in SKF India, will succeed as managing director of SKF India.

Although, Mr Makhija declined to comment on this issue, he said that Asia has recovered from the downturn faster than any other region. "We are optimistic that the thrust on higher spending on infrastructure and stimulus packages will revive consumer demand," he said on the growth prospects for the bearings sector, which took a hit after sales of cars and automobiles slowed down past the liquidity crisis. In the last fiscal year, SKF India saw sales of Rs 1,600 crore.